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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Australian Coal Association
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
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